If you are: A full-time teacher in an elementary or secondary school that has been designated by the Secretary of Education as a school that qualifies under the provisions of section 465(a)(2) as a school with a high concentration of students from low-income families; OR a full-time teacher of mathematics, science, foreign languages, bilingual education or any other field of expertise determined by the State Department of Education (the State where you teach) to have a shortage of qualified teachers in that state; OR a full-time teacher of children with disabilities, you should be eligible for this benefit.

All qualifying schools must be public or nonprofit and all teaching must be full-time for a full contract year. For example, if you teach math and P.E. in a high school this means you will not qualify because you must work in your field 100 percent of the time. If you are hired as a long-term sub, you will probably not qualify unless you work for a full teaching year. Please call this office at (360) 438-4393 if you have questions as to whether or not your school qualifies. We are on line with the Department of Education and can look up your school if you wish.

The Form: Please note it has two sides, you want the side which says, "Request for Cancellation". Everyone should complete the boxed area in Part 1 in ink. Your account number will always be 29130 your social security number and a 0 or 1 depending on whether or not you have multiple accounts.

• If you have completed a year of teaching, fill out the rest of Part 1 "Cancellation". Make sure your dates match the dates your administrator fills in under dates employed!
• If you have completed a year of teaching and will be teaching at the same school next year, fill out Part 1 and the Deferment for Pre-Cancellation Services directly below the cancellation section.
• If you are just starting your first year or at a new school this year, fill out the Deferment for Pre-Cancellation Services. After completing your year of teaching, you will need to complete the Cancellation portion of another copy of this form and the Pre-Cancellation Service section if you are teaching the next year. (After your first year, you will only need to fill in one form to both defer and cancel) Full cancellation of your loan takes five years. Per year: 15%, 15%, 20%, 20%, and 30%.

After completing Part 1, the form should be taken to your Principal or other appropriate certifying official for completion. The first year you must include an official job description (NOT one that you write up.) The job description used for hiring is sufficient. If your school does not use a raised seal, your certification of employment must be on school letterhead and accompany the form. All it needs to say is (Name) has successfully completed a full year of teaching at (school) from (date to date), and the signature and title of the official signing.

Remember if your form is incomplete or whited out, it will be kicked back and have to be done again!

Your initial grace period, the first grace period, is the only one that is nine months in length, all other grace periods are six months long. If you wish to file a deferment for which you qualify during your initial grace period, you will forfeit any part of the grace period which is covered by your deferment. For example: If you leave school in June, your initial grace period runs from July 1st through March 31st. If you start teaching in September, you lose the rest of your initial grace period and go right into your deferment period while you complete your teaching year.

Remember only full-time and public or non-profit schools will qualify. Please call me with any questions regarding your Perkins Loan or to request a form.

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Deferments/
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